Fri, Mar 02, 2012
Cash Awards Total Nearly $54 Million For 2011
In the midst of airline bankruptcies and labor disputes, it was
apparently a pretty good year for employees of Alaska Air Group.
The company paid annual bonuses totaling $53.8 million Wednesday to
nearly all of its 12,800 employees for exceeding the company's 2011
operational and financial goals. The bonus of about 6.7 percent of
annual pay, or more than three weeks pay for most workers, is in
addition to $1,000 in bonuses, on average, that each employee
earned last year for achieving monthly on-time and customer
satisfaction targets. The combined monthly and annual bonuses
amounted to nearly $72 million.
"We received several top honors during the past year, including
being named the most on-time major airline in North America for the
second year in a row and winning our fourth straight J.D. Power
award for customer service," said Brad Tilden, Alaska Air Group's
CEO-elect and president of Alaska Airlines. "We earned these awards
because of the hard work and dedication of our people. I want to
thank them for their focus on running a safe and on-time operation,
and for their commitment to our customers."
Nearly $33 million in annual bonuses — 61 percent of the
total — is being paid to some 6,300 Alaska Airlines and
Horizon Air employees in the Puget Sound area. Another $7.6 million
is being paid to employees in the Portland, Ore., area while $5.3
million is going to workers throughout the state of Alaska.
"We're pleased to reward our employees for their outstanding
efforts and hope these bonuses bring an added economic stimulus to
businesses in the communities we serve," Chief Financial Officer
Brandon Pedersen said.
Bonuses in Alaska Air Group's Performance Based Pay Plan are
determined by meeting specific company-wide goals for safety,
customer satisfaction, cost control and profit that are approved
annually by the board of directors. Annual bonuses have averaged 5
percent since the plan was formed in 2003.
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